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The Biden administration is considering blacklisting several Chinese semiconductor firms linked to Huawei Technologies, including Qingdao Si'En, SwaySure, and Shenzhen Pensun Technology Co., due to Huawei's advancements in AI chip development. This move aims to curb China's AI and semiconductor ambitions, impacting companies like Nvidia, Tencent, Alibaba, and others involved in competing or collaborating in the AI and semiconductor sectors.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 12:01 pm

ELY

Korea's Chosun Daily reports that the global golf equipment brand Callaway is currently up for sale. This news could indicate a significant shift in the golf equipment market and potentially impact Callaway's stock performance in the short term.

Portfolio Pulse from Charles Gross

March 20, 2024 | 11:59 am

INTC

NVDA

Intel Corp. (NASDAQ:INTC) shares surged nearly 4% premarket following the announcement of a proposed $8.5 billion funding from the Biden administration under the CHIPS and Science Act for semiconductor projects in the U.S. This funding aims to create tens of thousands of jobs and solidify the U.S.'s stance in the global semiconductor market. Intel's investments over the next five years are expected to exceed $100 billion, generating significant employment opportunities. Additionally, Nvidia Corp. (NASDAQ:NVDA) is considering Intel Foundry for its AI chip production.

Portfolio Pulse from Rounak Jain

March 20, 2024 | 11:54 am

EVTV

Envirotech Vehicles, Inc (NASDAQ:EVTV) has secured its largest deal ever, selling 200 electric vans and trucks to Texas-based PlugD Commercial Electric Leasing and Rentals for approximately $16.2 million. This deal underscores the growing demand for electric vehicles and highlights Envirotech's commitment to developing zero-emissions vehicles. Despite the positive news, EVTV shares dropped 4.59% to $2.08 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 20, 2024 | 11:49 am

ENSV

Enservco's stock price increased following the announcement of its agreement to acquire Buckshot Trucking LLC. This strategic acquisition could potentially enhance Enservco's service offerings and market presence.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:42 am

NLSP

NLS Pharmaceutics has obtained an exclusive global license for a next-generation non-sulfonamide dual orexin agonist platform, aiming to advance treatments in the sleep disorder pharmaceutical sector.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:39 am

M

Macy's Inc. (NYSE:M) has opened its financial records to Arkhouse and Brigade Capital as part of a potential $6.6 billion privatization bid. This move, following a confidentiality agreement, could help Arkhouse and Brigade secure debt commitments for the deal. The bid has been raised from $21 to $24 per share. Macy's, facing a board challenge from Arkhouse Management and a 1.4% decline in Q4 revenue, plans to close 150 locations by 2026. M shares closed higher by 1.41% at $21.54.

Portfolio Pulse from Shivani Kumaresan

March 20, 2024 | 11:37 am

ENB

Enbridge Inc. (NYSE:ENB) plans to expand the Gray Oak oil pipeline capacity in Texas by 80,000 barrels per day in 2024 and an additional 40,000 barrels per day in 2025, revising its initial target to a total increase of 100,000-200,000 barrels per day. The expansion aims to enhance the pipeline's connection between the Permian basin and Corpus Christi. Enbridge's Ingleside Energy Center, noted as the largest crude oil storage and export terminal in the U.S., is positioned to compete effectively against SPOT. The company also reported a Q4 FY23 adjusted EPS of C$0.64 and reaffirmed its 2024 financial guidance.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 11:25 am

JMPLY

Johnson Matthey has entered into an agreement to sell its medical device components business for $700 million. This strategic move is part of the company's efforts to streamline its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:15 am

MDXG

TELA

Tela Bio has sold the distribution rights for its NIVIS Fibrillar Collagen Pack to MiMedx, with an initial payment of $5M and future payments ranging from $3M-$7M based on NIVIS's net sales over the next two years.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:13 am